Nifty 50, the benchmark index, opened today’s session with a gap-down at 22,857 in comparison with yesterday’s shut of twenty-two,913. The index is presently hovering round 22,800, down 0.4 per cent.
The advance/decline ratio stands at 15/35, a bearish signal. NTPC, up 1.3 per cent, is the highest gainer whereas Mahindra & Mahindra is the highest loser by depreciating 5 per cent.
Just like the benchmark index all mid- and small-cap indices are within the crimson. Additionally, barring Nifty Metallic, up 0.2 per cent, all different sectoral indices are within the crimson. Nifty Auto (down 2.5 per cent) and Nifty Pharma (down 1.4 per cent) are the highest losers.
Nifty 50 futures
The February futures of Nifty 50 started today’s session decrease at 22,880 versus yesterday’s shut of twenty-two,943. It’s now buying and selling at 22,840, down 0.4 per cent.
The chart shows a bearish bias and so, the chance of a fall is excessive. From the present stage, the closest assist is at 22,700.
However, if Nifty futures get well, it is going to face a resistance at 22,900 and 22,950. As long as the contract trades under the latter, the bias will likely be bearish.
Buying and selling technique
Short Nifty futures at 22,840 with a stop-loss at 22,900. Exit at 22,700.
Helps: 22,700 and 22,600
Resistance: 22,900 and 22,950
- Additionally learn: Inventory Market Dwell Updates 21 February 2025: Sensex, Nifty dip; analysts count on range-bound commerce amid lack of triggers
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